Ashby de la Zouch based Plastribution, the UK's leading
distributor of polymers and plastics raw materials, has turned to
RBS to support the company's business growth story. This new
funding support comes at a time when the firm has unveiled a new
brand positioning as it looks to exploit its business momentum to
the full.
Plastribution, which supplies a mainly UK customer base but
sources materials from a global supply chain, has reported
double-digit per annum revenue growth over the past two years - up
from £41m in 2009 to £62m in 2011.
The company has successfully leveraged its market leading
position, strong business contacts, supply chain logistics
expertise and comprehensive industry knowledge to expand at a time
of wider economic uncertainty. Plastribution has continued to
recruit new staff and has created two apprenticeships this year
alone as it invests in vocational education to support its future
plans.
Plastribution has also invested heavily in research and
development so it remains at the forefront of innovation in the
market. In September the company further strengthened its portfolio
of sustainable materials with the addition of a new and unique
bacteria/enzyme-based biodegradation technology. The result of
seven years of extensive research, the Enzymoplast technology
promotes the conversion of polyethylene quickly and safely into
carbon dioxide, biomass and water.
The decision to move the company's financial relationship to RBS
is due in part to the bank's international capabilities and reach.
The Ashby de la Zouch based firm is increasingly dealing with
international stakeholders and was seeking a financial services
provider with international strength and depth, particularly with
regards to foreign currency and payment processes.
Mike Boswell, managing director, Plastribution, said: "To
continue our growth we need the right financial platform to trade
from. Markets have worked for us and despite the recession, demand
for our expertise and product range has driven our recent
substantial revenue growth. But we are not resting on our laurels.
We believe there are further growth opportunities in both the UK
and international markets. Our investment in research and
development continues to reap rewards. It is important to be at the
forefront of market innovation as this provides first mover
benefits, but it also requires large investment, so we need finance
partners who understand what we are seeking to achieve and are
willing to back our strategy."
Philip Grimshaw, director, business origination, corporate and
institutional banking at RBS, added: "By involving our specialist
product partners in trade and foreign exchange we have been able to
structure our support to meet Plastribution's needs, enhancing
their customer service and reducing administration. Our role is to
work with them and provide flexible finance to support their
business aspirations in both the medium and long term."